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10 Dec 2024

GBP/USD: A strong surge in momentum – UOB Group

Pound Sterling (GBP) is expected to trade in a 1.2710/1.2790 range. In the longer run, there has been a strong surge in momentum; GBP may rise to 1.2850, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.

GBP may rise to 1.2850

24-HOUR VIEW: “We indicated yesterday that GBP ‘appears to have entered a consolidation and is likely to trade between 1.2705 and 1.2770.’ GBP traded in a wider and higher range than expected (1.2718/1.2799) before closing largely unchanged at 1.2752 (+0.09%). The price action provides no fresh clues, and we expect GBP to trade in a 1.2710/1.2790 range today.”

1-3 WEEKS VIEW: “Last Friday (06 Dec, spot at 1.2760), we indicated ‘there has been a strong surge in momentum,’ and it ‘may rise to 1.2850.’ Aside from a brief rise to 1.2811, GBP has not been able to make much headway on the downside. However, we will continue to hold the same view, provided that 1.2685 (no change in ‘strong support’ from last Friday) is not breached.”

Dec 10, 2024

EUR: Willingness to go lower after some positioning adjustment in recent days – ING

Germany's final inflation numbers brought no change to the headline number published previously with November unchanged at 2.2% year-on-year.
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Dec 10, 2024

Italy Industrial Output w.d.a (YoY) rose from previous -4% to -3.6% in October

Italy Industrial Output w.d.a (YoY) rose from previous -4% to -3.6% in October
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